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Author Topic: ZenCloud has to be a scam -- especially HASHLET  (Read 13116 times)
df2k2
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August 17, 2014, 01:42:49 PM
 #1

I have a 1 MH/s hashlet.  I purchased it yesterday around 4pm EST.

Theres something wrong with the hashlet miner -- The URL https://www.zenminer.com/pool/ says: 0.00065924 Avg 24 Hour Payout, (BTC/day per MH/s).
My miner inidicates 0.00065923 as an average payout for zenpool.

When I FIRST set up my miner it had 0.00006xxxx as a payout.  I decided to ask a question in the chat box and find out if this was per BTC mined.. IT is WAY too low to be per 24/hr.  Nevertheless, I received NO reply concerning that number, but MAGICALLY the number changed to 0.00065923.  That's about 10x what it first said.  Umm??? This number should be INFLEXIBLE in that way.  It's a solid number that changes consistently as averages are computed.  The capability of making it 10 times higher is purely in whatever bullshit random algorithm that have "lying" to us.

This morning, I checked my account and I received 0.00006761 BTC. This is approx 1/10th the payout as indicated by two sources on the website. I am starting to think that hashlet mining is a complete scam. With the lack of flexibility and the sketchiness of the payouts, this has to be bullshit.

The ONLY way that this would be possible is if this is a pro-rated payout.  However I find it very unlikely at this point.

Here's the f'ing kicker:

IF all of a sudden things are repaired and I start getting the payouts as indicated... Then CLEARLY someone is manipulating the results except for the possibility of the first payout being prorated.  I find it hard to believe given how the zenpool's average payout was incorrect, then corrected.  The payouts are incorrect, and will be corrected too.  The payouts shouldn't be a flexible number like that.  There needs to be SOURCE information. There needs to be CHOICE of mining pool outside of their limits.  They use the excuse that to guarantee 99% up time, only those "special" pools may be used.  BULLSHIT.  

I signed up for the hashlet to mine and KEEP alt coins.  NOT to mine altcoins that are magically turned into bitcoins without any choice at all.  WTF?  I want to get ALT coins.  I DONT want BTC from this miner.


I WANT MY F'ing money back from them.  I'm completely calling this a scam.  100% scam!!!


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Hektur
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August 17, 2014, 02:46:42 PM
 #2

Maybe you should have done your homework before you made any purchases.

Your Hashlet didn't mine for a full 24 hours so you received a prorated payout.  This is stated all over their forums and all you had to do was ask instead of coming here complaining of a scam and bitching.

If you had also read the forums, you would have seen that yes, the coins are converted into BTC.  Coming soon will be the ability to mine certain algorithms and have the payout in various coins.

Since this is your first post here it could be taken that you are having buyer's remorse.  Post on their forums and I'm sure someone will gladly buy your Hashlet from you.

5ick3uffalo
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August 17, 2014, 03:37:51 PM
 #3

 WTF?  I want to get ALT coins.  I DONT want BTC from this miner.

You can get Altcoins. Simply use the BTC payout and buy Altcoins with it.


I´m happy with BTC payout, it´s the GOLD of crypto Smiley

BTC: 1Dw9feZAGSeHvaiQ55T7C92VAAXB2nVKKk
wiggl3r
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August 17, 2014, 04:35:26 PM
 #4

My hashletts that you say are such scams are happily hasing away at 2x what clevermining, wafflepool, hashnow, etc are paying.

I purchased 3 sets, got the code within 5 minutes and they began hashing as soon as I put the code in.

AS OF RIGHT NOW Hashletts are 2x as profitable as ANY other scrypt mining pool/unit.

-wgs
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August 17, 2014, 05:36:37 PM
 #5

Another thread made from a new account on the same day? You should really take a break Mr. Troll.
First one was by this guy (newbie with ~5 posts) but he deleted some of his shit after he was asked for a proof. Most likely these 2 accounts are owned by the same person.
https://bitcointalk.org/index.php?action=profile;u=361014


byt411
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August 17, 2014, 06:05:38 PM
 #6

If he's not a troll, I pity him. We always warn newbies to do their homework before investing in anything, in Bitcoin or in mining, but they just won't listen. Now they won't use common sense.
However, when I was ordering a Hashlet with Bitcoin, I wasn't told how to pay, and I had to submit a support ticket. I was told to send btc to an address and take screenshots for the transaction, which I find very suspicious.
bitgeek
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August 17, 2014, 06:45:16 PM
 #7

If he's not a troll, I pity him. We always warn newbies to do their homework before investing in anything, in Bitcoin or in mining, but they just won't listen. Now they won't use common sense.
However, when I was ordering a Hashlet with Bitcoin, I wasn't told how to pay, and I had to submit a support ticket. I was told to send btc to an address and take screenshots for the transaction, which I find very suspicious.
Just saw this on hashtalk, looks like the CEO wants to answer questions and offers to post pictures of the data center.
Maybe you should ask about the payment method there?

https://hashtalk.org/t/data-center-pictures/6448/7


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MagNaMan
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August 17, 2014, 09:47:00 PM
 #8

I wasn't going to reply cause you will just delete your post, and create a new account over and over. But oh well...

Lets see.. Newly created account. One post.. I can see your on a mission.. Simply put you have no credibility.

enough said.
guitarplinker
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August 18, 2014, 03:26:44 AM
 #9

I have a Hashlet and it's been working great for me. Also, I highly doubt that GAWMiners would try and scam people like this - they're a massive company and very trustworthy.
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August 18, 2014, 07:36:46 AM
 #10

I have a Hashlet and it's been working great for me. Also, I highly doubt that GAWMiners would try and scam people like this - they're a massive company and very trustworthy.

thanks for the boost.. and your comment is very helpful.
deeneendo
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August 18, 2014, 09:59:52 AM
 #11

you are a very silly man.

Think: they make 1 payout per day. If there are only a couple of hours left before the payout when your hashlets become active, you will only be shown about 1/10 of the profit the mine rwould make after a full 24 hour cycle. When you check tomorrow, after the miner has run for a full 24-cycle, the true profit predicition will be shown, and that is considerably higher than anywhere else at the moment.

So quit calling people scammers, use your brain and get some manners.
AirFlame
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August 18, 2014, 12:13:53 PM
 #12

I wasn't going to reply cause you will just delete your post, and create a new account over and over. But oh well...

Lets see.. Newly created account. One post.. I can see your on a mission.. Simply put you have no credibility.

enough said.

Why people bother check the forum status Smiley "Newbie" Smiley
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August 18, 2014, 12:21:27 PM
 #13

Thanks for make me laugh, Im really need it Grin
You should learn about any products/services before you buy/use it.
And you make it worse by calling zenminer as scam.

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DRCR
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August 18, 2014, 02:06:57 PM
 #14

My problem is their maintenance cost of 8 cents per MH. Right now at CleverMining 1MH/s would give you 0.00033 BTC which is now 15.2 cents. Therefore you would be paying about 53% of your earnings in maintenance, I think that is high.

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August 18, 2014, 03:02:04 PM
 #15

My problem is their maintenance cost of 8 cents per MH. Right now at CleverMining 1MH/s would give you 0.00033 BTC which is now 15.2 cents. Therefore you would be paying about 53% of your earnings in maintenance, I think that is high.


For me, it's just a little bit higher than what I would be paying for power. I'd rather have the hashlet, than have to deal with the heat, noise, etc of a physical unit. They're probably using current generation miners for the Hashlets, which aren't the most efficient either.
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August 19, 2014, 10:52:08 AM
 #16

I ran some figures with this calculator.

https://bitcoinwisdom.com/litecoin/calculator

For the inputs, I have

5% difficulty increment
Electricity price 0
Pool Fee 0

Hash Rate 100 MH/s
Hardware Price 1599
Hardware Power 0
Start Date 1
Deliver Cost 0
Setup Cost 0
Maintain Cost $240 (100 x $0.08 x 30)

Doesn't look good at all.
About 1.5 months before you start paying more on maintenance cost.

I am aware that in a datacentre there is greater scalability so it is probably still cheaper for them to run it on their economies of scale. But, it still doesn't solve the ROI problem. For a start, the pricing should reflect scaling cost cutting benefits as you increase hash rate.

If you buy more you should save more right?

Virtualisation of things is actually a massive cost cutter and any one who runs a datacentre should know that, but these prices don't seem to cut much cost if any at all.

The problem with miners (and i'm none the wiser) is that we all want an idea of a fixed income and we think that mining will give us that. With a bull market there is a fairly even chance of ROI and thats assuming the price of LTC soars back to near previous heights. Right now, if you buy a hashlet you are chasing your money back for the next few months (if you ever get there) and you lose out on market swings.

Imagine if you bought 1599 USD of LTC instead of 100 MH/s of Hashlet.

You can at any point sell any portion or all of your LTC, you can day trade on market swings, and you have the security of having the coins now.

The mindset of mining this same amount worth of LTC and then some more is having it all trickle in slowly, and in a bear market meaning almost making a loss.

I don't agree that Hashlets or GAW are a scam. They are proven to deliver their products. They have excellent history even beyond the crypto mining business.

But lets face it, the hedge is this: GAW know that most people will be optimistic about miners because they are profitable (just about) on today's difficulty and price. (some aren't even that..) The calculations will be way off, and most people will be left with something completely useless and maybe just about ROI or far from it. If today, LTC was soaring to near its previous high and even higher, then yeah, mining would be reasonable.  Right now though, i don't see how any one justifies mining.

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August 19, 2014, 03:01:13 PM
 #17

fudd your assuming though that they are mining ltc which i doubt it. if they have such high profitability why would they share their secret. they are better off just having users fund their project blindly. they have a proven track record so there is no need to be so transparent
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August 19, 2014, 03:16:36 PM
 #18



He made a new account wrote 1 troll post and disappeared. Move on.


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fuddudle
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August 20, 2014, 12:21:30 AM
 #19

fudd your assuming though that they are mining ltc which i doubt it. if they have such high profitability why would they share their secret. they are better off just having users fund their project blindly. they have a proven track record so there is no need to be so transparent

At the payout rate, mining whatever it is they're mining still only pays out for just another month on top of the calculation I made.

Not only this, you cannot deny that buying btc or ltc straight up will give you more "ROI" in the same time it takes for you to reach ROI with the hashlet.

Blazed
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August 20, 2014, 01:59:11 AM
 #20

Really doubt they are trying to scam anyone...cloud mining NEVER makes a profit or why would they not just self mine?  If you think that buying cloud miners is a profitable way to mine you better learn to do math first.
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